what are the new law and regulation in the philippines?
The country is currently enforcing the Tax Reform for Acceleration and Inclusion (TRAIN) law aimed at reducing the tax burden on low-income families, while increasing it on higher-income earners. The law also aims to simplify the tax system and make it more efficient. Additionally more progressive. The law will also increase the excise tax on certain goods, such as tobacco and sugary drinks, in an effort to discourage their consumption.